Nexstar Media Group (NASDAQ:NXST) Rating Lowered to Hold at Loop Capital

Nexstar Media Group (NASDAQ:NXST - Get Free Report) was downgraded by stock analysts at Loop Capital from a "buy" rating to a "hold" rating in a report issued on Friday, MarketBeat reports. They presently have a $190.00 price target on the stock, down from their previous price target of $200.00. Loop Capital's price objective would indicate a potential upside of 14.43% from the company's current price.

A number of other equities analysts have also commented on the company. Barrington Research reissued an "outperform" rating and issued a $200.00 price objective on shares of Nexstar Media Group in a research note on Thursday. StockNews.com lowered shares of Nexstar Media Group from a "buy" rating to a "hold" rating in a research report on Friday, October 4th. Deutsche Bank Aktiengesellschaft decreased their price objective on Nexstar Media Group from $207.00 to $205.00 and set a "buy" rating on the stock in a research report on Friday, August 9th. Benchmark cut their price target on Nexstar Media Group from $225.00 to $215.00 and set a "buy" rating on the stock in a research note on Monday, October 14th. Finally, Guggenheim lowered their price objective on Nexstar Media Group from $200.00 to $198.00 and set a "buy" rating for the company in a research report on Friday, October 4th. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $198.50.

Nexstar Media Group Stock Performance

NXST traded down $22.46 during trading on Friday, reaching $166.04. 1,148,131 shares of the company's stock were exchanged, compared to its average volume of 328,555. The company has a market capitalization of $5.36 billion, a P/E ratio of 13.02, a PEG ratio of 0.20 and a beta of 1.48. The business has a 50 day moving average price of $168.63 and a 200 day moving average price of $166.91. Nexstar Media Group has a fifty-two week low of $140.92 and a fifty-two week high of $191.86. The company has a quick ratio of 1.78, a current ratio of 1.78 and a debt-to-equity ratio of 2.92.

Nexstar Media Group (NASDAQ:NXST - Get Free Report) last released its quarterly earnings results on Thursday, November 7th. The company reported $5.27 EPS for the quarter, missing analysts' consensus estimates of $5.51 by ($0.24). The firm had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.37 billion. Nexstar Media Group had a net margin of 8.68% and a return on equity of 18.65%. Nexstar Media Group's quarterly revenue was up 20.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.70 earnings per share. As a group, analysts predict that Nexstar Media Group will post 25.72 earnings per share for the current fiscal year.

Insider Activity at Nexstar Media Group

In other Nexstar Media Group news, Director Jay M. Grossman sold 10,000 shares of Nexstar Media Group stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $170.70, for a total transaction of $1,707,000.00. Following the transaction, the director now directly owns 54,625 shares in the company, valued at approximately $9,324,487.50. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, insider Gary Weitman sold 7,261 shares of the company's stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $164.80, for a total transaction of $1,196,612.80. Following the completion of the transaction, the insider now directly owns 5,216 shares of the company's stock, valued at $859,596.80. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jay M. Grossman sold 10,000 shares of Nexstar Media Group stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $170.70, for a total transaction of $1,707,000.00. Following the completion of the sale, the director now owns 54,625 shares in the company, valued at $9,324,487.50. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 41,112 shares of company stock worth $6,887,029 in the last quarter. Corporate insiders own 6.30% of the company's stock.

Institutional Trading of Nexstar Media Group

Institutional investors and hedge funds have recently bought and sold shares of the stock. Whittier Trust Co. acquired a new stake in shares of Nexstar Media Group in the 2nd quarter valued at approximately $27,000. Allspring Global Investments Holdings LLC grew its holdings in Nexstar Media Group by 3,700.0% during the second quarter. Allspring Global Investments Holdings LLC now owns 266 shares of the company's stock worth $44,000 after purchasing an additional 259 shares during the period. Capital Performance Advisors LLP acquired a new position in Nexstar Media Group during the third quarter worth approximately $44,000. GAMMA Investing LLC raised its stake in Nexstar Media Group by 112.2% in the second quarter. GAMMA Investing LLC now owns 295 shares of the company's stock valued at $49,000 after buying an additional 156 shares during the period. Finally, Mascoma Wealth Management LLC acquired a new stake in shares of Nexstar Media Group in the second quarter valued at approximately $49,000. Institutional investors own 95.30% of the company's stock.

Nexstar Media Group Company Profile

Nexstar Media Group, Inc operates as a diversified media company that produces and distributes engaging local and national news, sports and entertainment content across the television and digital platforms in the United States. It owns, operates, programs, or provides sales and other services to various markets; and offers television programming services.